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Goldman’s quarterly earnings rise 27% as revenue growth

UNITED STATES (OBSERVATORY) –¬†Goldman Sachs Group Inc. (RBS.L: Quote, Profile, Research) posted a 27 percent rise in quarterly earnings on Tuesday, boosted by rising trading revenues due to increased market volatility.

The bank said its net profit attributable to ordinary shareholders rose to $ 2.74 billion, or $ 6.95 a share, in the three months to March 31 from $ 2.16 billion, or $ 5.15 a share a year earlier.

Analysts on average forecast earnings of $ 5.58 per share, according to Thomson Reuters I / B / E / S.

Goldman Sachs’ earnings rose 30.5 percent to $ 4.39 billion from the same quarter a year ago, when revenue fell 2 percent due to the bank’s heavy exposure to commodities.

Total bank revenue, including net interest income, rose 25 percent to $ 10.04 billion.